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10-09-2010, 07:58 PM | #1 | |||
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Junior Member
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I am receiving SSD and recently applied for SSI. On friday I just received a check from my former workers comp ins. co.; it's the "seed money" for my medicare set aside. I understand that it's ONLY to be used for my work injury costs (such as meds & etc). I am no longer on workers comp.
What I'd like to know is: Will SSI count this money as a asset in my claim? Thanks for any info you can give me. |
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10-09-2010, 10:17 PM | #2 | |||
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. ♥ "Hope is more than a word; it's a state of being. It's a firm belief God will come through. Life brings rain... hope turns every drop into the power to bloom like never before." -Holley Gerth ♥ My name is Sarah and I am 25 years old. I have a lot of chronic health problems. Peripheral neuropathy and POTS (postural orthostatic tachycardia syndrome) keep me bedridden the majority of the time. I also struggle with degenerative disc disease, disc desiccation, spondylolisthesis, arthritis, polycystic ovarian syndrome (PCOS) with insulin resistance, allergies, sound sensitivities, and other health problems. |
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10-11-2010, 12:20 PM | #3 | ||
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This is something I need to look into. I was hurt on the job and also received a lump sum that I had to put in the bank. My understanding is I have to use this money before using Medicare. What I wonder is I am also still under my wife's insurance. They pay for all of my psych appointmets. I haven't had any issues with my knee. Do I use my wife's insurance if I need anymore knee surgeries or appointments. also what if there are no more issues with my knee who gets this money. It is close to $13,000. I would hate to lose it.
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10-12-2010, 03:39 AM | #4 | ||
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Senior Member
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Jay,
This link explains how you can use a trust to hold those funds and pay your medical bills without it affecting your monthly SSI check http://www.socialsecurity.gov/ssi/sp...pot-trusts.htm
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10-12-2010, 03:45 AM | #5 | ||
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Senior Member
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Quote:
If you are already receiving SSI, I am surprised that they haven't counted that money as a resource if it's just sitting in a regular bank account. Did your Allsup lawyer who handled your SSDI application also manage the WC set aside and your SSI application ?
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10-13-2010, 01:58 PM | #6 | |||
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Junior Member
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Yes; my one atty. did the W.C. set-aside & SSD. As for the SSI; I applied for it myself. I was denied just last month because I have a pension plan with my former employer & I had to find out if I could draw off of it or not. (Which I just found out I can't); so I sent in the paper to SSI stating I can't. Now I'll wait & see with that.
As with the links provided ---maybe I'm not reading it right. But, I can't find a simple "yes or no" answer (if W.C. medical set-aside payment will count against applying for SSI). |
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10-14-2010, 06:32 AM | #7 | ||
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Senior Member
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It looks like the WC set aside has to be in a special trust, so that it doesn't look like asstes that you could use whenever you want to. The specifics are at this link: http://www.socialsecurity.gov/ssi/sp...pot-trusts.htm
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10-14-2010, 09:12 PM | #8 | ||
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Member
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Quote:
I think the reason you cannot find a reference that your WC medical set-aside is excludable from SSI resources is because it is not. Also, if you read the reference on trusts, you'll see that the trust cannot be funded with your own money. As soon as the check is issued to you, it becomes your money. |
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10-16-2010, 10:06 AM | #9 | |||
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Junior Member
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Janke;
Thanks for your info. I did invest in a pension; but I can't draw off of it till I'm 62. I requested a written statement stateing this and already send it into SSA |
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10-20-2010, 09:21 PM | #10 | ||
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Member
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Quote:
https://secure.ssa.gov/apps10/poms.nsf/lnx/0500510001 read D.4 |
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